Question

Book1 - Excel Home Insert Page Layout Formulas Data Review View Tell me what you want to do Calibri General Normal Ee Copy 트 ,,El Merge & Center . $ ·96 , +0-0 Conditional Format as Neutral Format Painter Formatting Table Alignment Number ACCOUNT NOTICE We've run into a problem with your Office 365 subscription, and we need your help to fix it. Reactivate A38 Required: To find the Cash paid to suppliers 1 As the accountant for MM Group your duties include preparing the Statement of Cash 2 Flows from the information provided below MM Group Comparative Statements of Financial Position As at June 30 MM Group Comparative Statements of Financial Position As at June 30 2018 2017 Sales Revenue Less Cost of Goods sold Gross Profit Less Operating expenses (including bad debts and depreciation) 1,000,000.00 600,000.00 400,000.00 300,000.00 100,000.00 10 Accounts Receivable 11 Prepaid Expenses 12 Inventory 13 Equity Investments (non-trading) 14 Equipment 15 Building 5,000.00 82,000.00 8,000.00 60,000.00 80,000.00 40,000.00 300,000.00 300,000.00 40,000.00 655,000.00 55,000.00 100,000.00 10,000.00 65,000.00 70,000.00 50,000.00 Income from Operations Other income and Expenses Gain on sale of investments Loss on sale of equipment 10,000.00 (2,000.00) 8,000.00 108,000.00 48,000.00 60,000.00 80,000.00 730,000.00 18 19 Allowance for Doubtful Accounts 20 Accumulated Depreciation-Equipment 21 Accumulated Depreciation-Building 22 Accounts Payable 23 Income Tax Payable 24 Long term Notes Payable 25 Share Capital Ordinary 26 Retained Earnings 27 28 29 Additional data 30 1 Equipment that cost 10,000 and was 50% depreciated at the time of disposal was sold for $3,000. 31 2. Ordinary shares were issued in exchange for land 32 3. Equity investments which cost 30,000 were sold 33 4. Uncollectible accounts valued at $2,000 were written off during the year 34 5. Cash dividends were declared and paid during the year 35 36 The company prepares its Statement of Cash Flows using the direct method. Less Income before taxes Net Income 12,000.00 10,000.00 30,000.00 75,000.00 10,000.00 70,000.00 440,000.00 350,000.00 98,000.00 730,000.00 655,000.00 14,000.00 15,000.00 33,000.00 70,000.00 12,000.00 60,000.00 86,000.00 38 Required: To find the Cash paid to suppliers

Answer 1

cash paid to suppliers =
cost of goods sold +increase in inventory +decrease in accounts payable-
decrease in invnetory - increase in accounts payable
600,000+5000+5000
610,000	answer